Just a small post with respect to wave relationships according to Elliott wave theory
If wave 3 is an extended one - then wave 5 tends to respect Fibo relationship with the wave 1 - basic assumption if we try to locate potential end of an impulse
And this a helpful analytical trick
Just take a look:
- wave 3 travels 262% of wave 1 (extended)
- wave 5 equals (100%) to wave 1
How that works? Unbelievable. But it's the fact
If wave 3 is an extended one - then wave 5 tends to respect Fibo relationship with the wave 1 - basic assumption if we try to locate potential end of an impulse
And this a helpful analytical trick
Just take a look:
- wave 3 travels 262% of wave 1 (extended)
- wave 5 equals (100%) to wave 1
How that works? Unbelievable. But it's the fact
Comment:
my apologies - it's pound/$, of course)